Align Technology Inc (ALGN)

Debt-to-assets ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Long-term debt	US$ in thousands	—	—	—	—	—
Total assets	US$ in thousands	6,083,880	5,947,950	5,942,110	4,829,680	2,500,700
Debt-to-assets ratio		0.00	0.00	0.00	0.00	0.00

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $6,083,880K
= 0.00

The debt-to-assets ratio for Align Technology, Inc. has been consistently reported as 0.00 for the past five years, indicating that the company has had no debt relative to its total assets during this period. A debt-to-assets ratio of 0.00 signifies that the company's assets have been entirely financed by equity rather than debt. This can be viewed as a positive indicator of the company's financial health and stability, as it suggests that Align Technology has not relied on borrowed funds to support its operations and growth. Additionally, a low or zero debt-to-assets ratio may indicate a lower level of financial risk for the company, as it is not burdened by high levels of debt that need to be serviced with interest payments. However, it is important to note that while a low debt-to-assets ratio is generally favorable, it may also suggest that the company is not taking full advantage of leverage for potential growth opportunities.